Runaya Refining signed a technology licensing pact with Taha International, a company with patented technology for aluminium dross processingSatish John | ET Bureau | Updated: May 23, 2017, 10:59 IST

The Agarwal brothers - Naivedya and Annanya -are building their second metals startup that would harness the cutting-edge technology of Bahrain's Taha International, which owns the patent for converting waste aluminium into value-added products.

Annanya, whose father Navin Agarwal is the chairman of Vedanta, would spearhead Runaya Refining, a senior executive in the group said, referring to the leadership plans for the startup.

Runaya Refining signed a technology licensing pact with Taha International, a company with patented technology for aluminium dross processing. Taha has developed a unique two-stage dross process to recover metal from dross, a by-product of the aluminium industry, a process that has removed the need for salt or extra energy.

The patented technology helps refine the residual oxides, converting them to value-added products, such as fertiliser or steel-slag conditioner, without producing any waste that otherwise contaminates the environment: The waste is normally used as a landfill.

The model used by RRL is the circular economy model. It involves industrial waste being treated and processed to increase the efficiency of the plant, and then the remaining residue offtaken to create value added downstream products.

Runaya Refining, a senior executive said, selected this technology after a rigorous evaluation process that involved judging the claims of competing solutions. With the conclusion of this agreement, the project is set to enter the execution phase.

The project will set up a facility in Jharsuguda, with an initial capacity of 30,000 MT. RRL expects to commission Phase 1 by end of 2017 and commence commercial production in 2018. The project will be in two phases, with an investment of $25 million.